Groups suffer from oil export suspension in Kurdistan Region

According to a report by Energy Intelligence Magazine, three groups have suffered from the 3-month suspension of oil exports from the Kurdistan Region of Iraq.

Reuters news agency has estimated the economic loss of the Iraqi Kurdistan Regional Government from the 3-month suspension of oil exports from this region to about 3 billion dollars, but the Energy Intelligence magazine reported that apart from the Iraqi Kurdistan Regional Government, two other groups also suffered losses from the suspension of the Kurdistan Region's oil exports.

According to the report, foreign oil companies that extract oil from the Kurdistan Region's wells, as well as the buyers of the oil from the Kurdistan Region, are among the victims of the suspension of the export of Iraqi Kurdistan's crude oil through Turkey.

It has also reported the serious problems for Kurdistan region's oil buyers in finding a suitable alternative for the Kurdistan region's cheap oil after its export was stopped in the last three months.

Energy Intelligence has also announced the suspension of the activities of international oil companies in the Kurdistan Region, the delayed payment of their wages by the Kurdistan Regional Government due to the sharp decrease in Erbil's income, and the criticism of the shareholders of these companies.

According to this report, both the government of the Kurdistan Region and the foreign oil companies operating in the Kurdistan Region and the customers of Iraqi Kurdistan's crude oil, especially the refineries of the Eastern Mediterranean countries, have suffered greatly from the stoppage of Iraqi Kurdistan's oil flow through Turkey.

Reporter's code: 50101

News Code 159097

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